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United States and BlackRock partner on Ukraine reconstruction
Steve Witkoff, the White House special envoy, revealed on January 6, 2026, a landmark partnership between the United States and BlackRock to drive Ukraine's economic revival. Speaking to reporters after a Volunteer Coalition summit in Paris, Witkoff described the deal as "the most robust prosperity agreement any country has ever seen emerging from a conflict like this." The initiative focuses on generating job opportunities for Ukrainians returning from the war, promising substantial prospects for those rebuilding their lives through high-quality employment.
This collaboration brings together BlackRock CEO Larry Fink, who has assembled a volunteer team to develop Ukraine's reconstruction framework alongside World Bank President Ajay Banga. The partnership gained formal shape in December 2025, following a meeting between Ukrainian Prime Minister Yulia Svyrydenko and key figures including Fink, Banga, and Trump advisors Jared Kushner and Witkoff. Their joint working group aims to channel public capital, grants, loans, and private investments into critical areas like infrastructure, energy, industry, and human capital development.
Ukraine projects a need for $800 billion over the next decade to fund reconstruction and economic growth, excluding defense costs, according to Svyrydenko. Witkoff emphasized the tight connection between this economic push and ongoing security guarantees, stating that "a robust economy correlates directly with these security protocols." German Chancellor Friedrich Merz reinforced this view at the Paris summit, noting that economic resilience will prove vital for Ukraine to deter future Russian aggression effectively.
The Paris gathering drew representatives from over 30 nations, with France, the United Kingdom, and Ukraine signing a statement of intent on potential troop deployments to bolster defense and rebuilding efforts post-ceasefire. BlackRock had paused a separate Ukraine reconstruction fund earlier in 2025 amid uncertainties from the U.S. election, but the firm has now recommitted to this expanded effort.
